Comments on: China’s Hong Kong experiment faces biggest trial http://blogs.reuters.com/breakingviews/2014/06/13/chinas-hong-kong-experiment-faces-biggest-trial/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: StigTW http://blogs.reuters.com/breakingviews/2014/06/13/chinas-hong-kong-experiment-faces-biggest-trial/comment-page-1/#comment-12117 Sun, 15 Jun 2014 11:31:27 +0000 http://blogs.reuters.com/breakingviews/?p=24962#comment-12117 Hong Kong might do better if they fixed their broken electoral system allowing companies and foreign entities more votes than the people that lived there. (A system it inherited) – but that is hong kong – it’s always been about the Money.$$$

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By: blah77 http://blogs.reuters.com/breakingviews/2014/06/13/chinas-hong-kong-experiment-faces-biggest-trial/comment-page-1/#comment-12115 Fri, 13 Jun 2014 19:49:16 +0000 http://blogs.reuters.com/breakingviews/?p=24962#comment-12115 Much ado about nothing. All of the rhetoric and sensalitionism is just that. Behind all of the bluster there are two key facts.

1. China still needs HK’s status as a global commercial and economic hub far too much to risk drastically changing things up. Even though China has been pushing for the Yuan to become a major global trade currency, that reality is still at least a decade away if not more. Until then, they will continue to rely on the major financial institutions in HK for USD transactions.

2. As much as some Hong Kongers like to complain about the housing prices and influx of mainland wealth, many of them also know that they won’t be prosperous without it. The tourism, retail and real estate cash being injected into their local economy is by no means trivial and vital to a tiny territory that has no natural resources and limited selection of industries. Often times, Hong Kongers just like to complain for the sake of complaining.

It’s great for the author of this article to be concerned for Hong Kong’s status and well-being but in the end, it’s really just all academic.

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